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  3. Study Set
    Cornerstones of Financial Accounting Study Set 3
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    Exam 6: Cost Of Goods Sold and Inventory
  5. Question
    At the Year-End Inventory Count, If Goods in Transit Are
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At the Year-End Inventory Count, If Goods in Transit Are

Question 104

Question 104

Multiple Choice

At the year-end inventory count, if goods in transit are shipped FOB destination, they should be included in the inventory count of


A) the seller.
B) the buyer.
C) the shipping company.
D) neither the buyer nor the seller.

Correct Answer:

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